Proactive Investors - Blackbird PLC (LON:BIRD) has confirmed the formal launch of its news browser-based content tool will take place later this month (towards the end of Q1).
Elevate.io is a departure for the group in that it is aimed at the growing content creator economy, rather than professional broadcasters.
Chief executive Ian McDonough said its 'qualitative and quantitative' market research identified three key problems for this emerging group: They are using locally installed products; collaboration is 'clunky'; and existing tools have 'limited extensibility'.
"Our vision for elevate.io is to address these problems via a powerful web-based platform," he added in commentary alongside full-year results.
We are early to market in this area and have the opportunity to capitalise on the paradigm shift to web-based video tools for the huge and fast-growing creator economy,"
McDonough described 2023 as a year of 'great progress' with the development of elevate.io being a highlight. However, the loss of the A+E Network (LON:NETW) and NHL deals contributed to a 32% fall in revenues to £1.9 million for the 12 months ended December 31. The underlying (EBITDA) loss was £2.3 million.
More pertinently, Blackbird's immediate cash requirements have been satisfied following a fundraiser on February 29, which brought in £1.05 million.
"I am very excited about 2024 and progressing elevate.io to general release," said McDonough.
"The creator economy represents a massive opportunity for the Company to open up our addressable market and, through elevate.io's self-service model, we anticipate this significantly accelerating our revenue growth."
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